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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Rite Aid Corporation (NYSE: RAD) to Albertsons Companies. Under the terms of the transaction, Rite Aid shareholders may exchange every 10 shares of Rite Aid common stock they own for either (1) one share of Albertsons Companies common stock plus approximately $1.83 in cash or (2) 1.079 shares of Albertsons Companies stock.
The investigation concerns whether the Board of Rite Aid breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Albertsons Companies is underpaying for Rite Aid shares, thus unlawfully harming Rite Aid shareholders.
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